Higgs to quit building

Article Abstract:

Higgs and Hill will sell its contracting division to Hollandsche Beton, and will focus on real estate and house building. The company is not large enough to compete for UK private finance initiative work, nor small enough to compete as a local niche player with low overheads. The company has faced low profit margins which creates problems if costs are higher than expected. The UK construction industry faces overcapacity and further consolidation is expected through acquisitions and companies leaving the business.

Hollandsche Beton Groep N.V., Higgs and Hill PLC

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Amec move to repel boarders falls flat

Article Abstract:

Kvaerner is seeking to acquire Amec, a UK construction company. Kvaerner is a Norwegian engineering concern and shipbuilder, and has already acquired a stake of 12% in Amec. Amec has sought to make a bid for Alfred McAlpine which has been rejected by McAlpine. Kvaerner is especially interested in the North Sea gas and petroleum activities of Amec. Amec may only retain its independence through an agreement with a white knight, since the company has difficulty defending itself.

Kvaerner ASA, AMEC PLC

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